Sceptre Ventures Provides Update on Application for Management Cease Trade Order
Vancouver, BC - TheNewswire - October 29, 2020 - Sceptre Ventures Inc. (“Sceptre” and/or the “Company”) (TSXV:SVP.H) announces that the British Columbia Securities Commission the “BCSC”) has denied the Company’s application for a Management Cease Trade Order (“MCTO”). As such, the BCSC has issued a general “failure to file” cease trade order (“CTO”) on October 28, 2020, to prohibit the trading by any person of any securities of the Company in Canada. Trading in the Company’s common shares on the TSX Venture will remain halted as a result of the CTO.
The CTO was issued as of result the Company’s failure to file its the 2019 Annual Filings and its 2020 Interim Filings by the filing deadline of October 28, 2020. The CTO will remain in place until such time as the 2019 Annual Filings and 2020 Interim Filings are filed by the Company. Trading in the Company’s common shares on the TSXV will remain halted for so long as the CTO remains in effect. There is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. Shareholders of the Company may suffer a significant decline or total loss in value of its investment in the Company’s common shares as a result.
The Company's board of directors and its management confirm that they are working expeditiously to raise financing to meet the Company's obligations, including completion of the audit and filing of the Annual Filings, as well as to identifying businesses and/or assets with a view to completing a Qualifying Transaction.
The Company will make further announcements with respect to the status of the 2019 Annual Filings as and when appropriate.
Additionally, the Company wishes to report that the B.C. Registrar of Companies has granted an extension of six months to June 30, 2021, for Sceptre to hold its annual general shareholder meeting as required to be held under the BC Business Corporations Act.
About Sceptre Ventures Inc.
Sceptre Ventures Inc. is a Capital Pool Company (“CPC”) within the meaning of the policies of the TSX Venture Exchange and has not commenced commercial operations and has no assets other than cash. Sceptre is currently engaged in identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction under the Exchange’s CPC policy.
For Further Information:
#1501 - 128 West Pender Street
Vancouver, BC, V6B 1R8, Canada
Tel: 604-688-4219 ext. 236 or 237
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sceptre believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Sceptre’s management on the date the statements are made. Except as required by law, Sceptre undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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